Avoid Bank of America Monthly Maintenance Fee

How to Avoid Bank of America Monthly Maintenance Fee

The bank of America offers cool options for savings and checking accounts to customers. And just like a lot of conventional banks, they charge monthly fees. The fees that are charged by the bank of America largely depend on the type of account that is in possession of the customer.


A lot of persons in most online communities have shown their disdain for the fees that are accrued by the bank of America. That is why in the course of this article, we would be looking at how to avoid maintenance fees from the bank of America.

What is a Bank of America Maintenance Fee?

Bank of America Maintenance Fee

A bank of America maintenance fee is a charge which is mostly accrued monthly and charged by the bank of America for working with them. This fee is automatically withdrawn by the bank of America from the account of the customer each month.

There are some avid ways a customer can actually waive the monthly fees of the bank of America. And that is what we are going to discuss in the course of subsequent paragraphs.

The maintenance fee that is charged by the bank of America depends on the account type of the customer. Here is a breakdown of what the bank of America checking account fees looks like.

Bank of America Checking account fees

The fee can vary greatly depending on the type of account the user bears. For the bank of America Advantage Safebalance account type, the maintenance fee is $4.95. For the Advantage Plus account type, the maintenance fee is $12. While for the Advantage relationship account type, the maintenance fee is $25.

Guide on How to avoid Bank of America Monthly Maintenance Fee

By keeping a low balance and by making direct deposits, you can evade bank of America fees. There are also bank of America account types where the maintenance fees can be waived due to the age of the account bearer.

It is important for the bank of America owner to know that each account type has its own requirements. This is why the account bearer should have waiver information that matches your bank of America account type.

Also worth noting is that monthly service fees are very much different from item-specific costs such as overdraft fees pr cash advance fees.


Here is a breakdown of some of the options to avoid in order not to cross paths with the bank of America Maintenance fees:

Keep a minimum Balance

Here are the three minimum balance that you can keep in other to qualify for a maintenance fee waiver.

  • Bank of America Advantage account savings account type- $500
  • The Advantage Plus account type- $1500
  • The Advantage Relationship Account type – $10,000.

The bank of America customer should have Qualifying Direct Deposits

The only account that allows a bank of America customer to avoid paying the monthly maintenance fee is the Advantage plus account.  The minimum amount for making one qualifying direct deposit is $250.

Avoiding Maintenance Fees by linking all your bank of America accounts

When a bank of America customer links all their eligible accounts, it would help them to reach the requirements for avoiding the monthly maintenance fee.

By enrolling in a preferred Rewards Program

It is important for a bank of America customer to note that the monthly maintenance fee can be avoided by registering for a rewards program. One thing that is put into consideration before allowing you to enroll in any rewards program is how active your Bank of America Personal checking account is. The customer would also need to keep a three-month average combined across the bank of America accounts.

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By qualifying for the student Waiver

If the account holder is enrolled in an academic institution, they can opt for a student waiver. Also, to be eligible for a student waiver, they would need to be below the age of 24. With this waiver, you can avoid the monthly fees from bank of America.

Here are the three accounts to which the student waiver is applicable:

  • Advantage plus account
  • Advantage savings account
  • Advantage SafeBalance account

How a bank of America Customer can Avoid Overdraft fees

It is important to note that the bank of America overdraft standard fee is $35. Did you know that this figure can turn out to be a huge chunk of change if you are low on funds? The best thing for a customer to do to avoid the overdraft fee is to remain vigilant and keep a healthy bank of America account balance.

A bank of America overdraft kicks in when the customer is trying to use more funds than they have in their bank account. The best thing to do is to sign up for a bank of America overdraft protection service. This would allow the bank to cover a transaction by using funds from another account like a savings account.


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